Home / Knowledge / News / Textiles / Ahlstrom nets €11.8mn from sale of 2.314mn Munksjö shares
Ahlstrom nets €11.8mn from sale of 2.314mn Munksjö shares
10
Jan '14
Ahlstrom, a global high performance fiber-based materials company, has sold 2,314,000 shares in Munksjö Oyj for approximately EUR 11.8 million.

Ahlstrom's holding in Munksjö is included in other investments in the balance sheet and is valued at fair value. Ahlstrom will book a capital loss of EUR 0.7 million from the transaction in its Q1/2014 financial accounts.

Based on a price risk sharing agreement between Ahlstrom and EQT, the largest shareholder in Munksjö, Ahlstrom is entitled to compensation from EQT in Munksjö shares for 50% of the difference between the original subscription price of the sold shares and the selling price.

Due to the agreement Ahlstrom has recorded in the 2013 financial accounts an income of EUR 3.8 million and will record a further income of 0.4 million in its Q1/2014 financial accounts. In total, the impact on Ahlstrom's equity will be negative EUR 0.4 million.

"This was the appropriate time to reduce our shareholding in Munksjö given the interest in the market. By this transaction we strengthen our balance sheet, and at the same time Munksjö's shareholder base will be broadened," said Ahlstrom's President & CEO Jan Lång.

A total of 700,000 of the sold shares valued at approximately EUR 3.57 million are sold to Vimpu Intressenter Ab, the largest shareholder of Ahlstrom.

Following the sale of shares, Ahlstrom's shareholding in Munksjö will be 6,767,220 shares, representing 13.25% of total shares. Assuming EQT will compensate Ahlstrom in Munksjö shares, Ahlstrom's shareholding in Munksjö will increase to 7,585,873, or 14.86% of the total shares.

About Ahlstrom

Ahlstrom is a high performance fiber-based materials company, partnering with leading businesses around the world to help them stay ahead. Our products are used in a large variety of everyday applications, such as filters, medical gowns and drapes, diagnostics, wallcoverings, flooring and food packaging. We have a leading market position in the businesses in which we operate.

Ahlstrom


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search